In 1970 there were no multimillion dollar TV deals. People want to say that salaries of college coaches and NFL players have gone up too high.
This is the thing though
1) Salaries in every field have gone up since 1970
2) Football (and sports in general) were not the same business as they were 40 years ago.
Joe Mauer makes more than 20 million per year....and economically he is underpaid
If Babe Ruth in his prime would have made 15 million per year (In 2010 dollars) he would have been vastly overpaid.
It is amazing how much the business of sports has change in that amount of time.